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The billionaire is facing a N430 million fraud against Stanbic IBTC bank.

Billionaire businessman, Seun Ogunbambo, Thursday, filed an application before an Ikeja High Court saying it lacked the jurisdiction to try him for bank fraud.

The accused, who is also involved in multiple cases of fuel subsidy fraud, is facing a N430 million fraud against Stanbic IBTC bank.

Mr. Ogunbambo’s application comes on the heels of the court’s adjournment, last month, for trial to commence.

The Counsel to the Economic and Financial Crimes Commission, EFCC, Francis Usani, said he did not bother to file a response to the defendant’s application over jurisdiction since the court had adjourned for “definite trial.”

The trial judge, Olabisi Akinlade, had berated the EFCC for not responding to the application contesting the court’s jurisdiction filed by Mr. Ogunbambo.

“I confirm that I received an application on the 11th of March by 4.35p.m., but the business of today is commencement of trial,” said Mr. Usani.

“At the last date we had the witness except for the unavailability of the senior counsel. We are hoping to proceed to trial today,” he added.

The court was forced to adjourn at the last date due to the absence of Adebayo Adenipekun, counsel to Mr. Ogunbambo.

Mr. Adenipekun apologized to the judge on Thursday, stating that he was caught in traffic during the last sitting.

He also lashed out at the EFCC for “misrepresenting the facts” on when they received the application questioning the court’s jurisdiction.

“It’s not fair to misrepresent facts before the court. The application was served on the 7th of March. If Your Lordship rules that she has jurisdiction, we are ready for trial,” Mr. Adenipekun said.

The case had witnessed several adjournments due to repeated requests by Mr. Ogunbambo to make efforts towards an out of court settlement with the EFCC.

Negotiations between both parties, however, hit a brick wall forcing the judge to fix a date for trial.

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